SiriusXM announced today that James E. Meyer has been appointed Interim CEO of the satcaster, effective immediately. Meyer was SiriusXM's President of Sales and Operations and succeeds Mel Karmazin. Meyer will also join the SiriusXM Board of Directors.

"We are fortunate to have a very strong executive team in place at SiriusXM and in Jim we have a highly qualified leader and operator," said Eddy Hartenstein, Chairman of the Board of Directors of SiriusXM. "Jim has been an integral part of SiriusXM for eight years and his extensive knowledge of SiriusXM's business and significant industry experience are a great asset. Given Jim's current position, we expect this will be a seamless transition. Thanks to Mel Karmazin's leadership, strategic vision and operating focus, SiriusXM is poised for a continuation of the results and performance investors have come to expect."

"I'm honored to lead SiriusXM during this important time for our Company," said Meyer. "SiriusXM is a great business and I look forward to working with our talented management team to continue to deliver the best content and service to our subscribers, while enhancing value to our shareholders."

Upon Meyer's appointment, Karmazin officially relinquished his role as CEO and resigned as a member of the SiriusXM Board of Directors. As previously announced, the SiriusXM Board has formed a search committee, chaired by Greg Maffei and including James Mooney and Eddy Hartenstein, to consider both internal and external candidates, including Meyer, for the CEO position.

Meyer has served as SiriusXM President of Sales and Operations since May 2004. Prior to joining SiriusXM, he was President of Aegis Ventures, a general management consulting company, and provided consultant support for SiriusXM.